Wednesday,06 December 2023 16:50:06

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Wednesday,06 December 2023 at 16:50

UK and European markets closed higher, rebounding from mixed trade seen earlier in the week.

US stocks were little changed as investors looked to data that signalled more cooling in the labour market.

Oil prices fell as investors weighed the effectiveness of an extension in OPEC+ cuts in tightening supply against a worsening demand outlook in China.

Gold firmed as Treasury yields eased, stabilizing after a rapid retreat from a record high hit earlier this week, while investors braced for the U.S. jobs report for further clues on how soon interest rates may materialize.

In corporate news, Weir Group gained after saying it is now targeting £60m in absolute savings by 2026, as part of its goal to reach an operating margin of 20% by the same year.

It also confirmed that market conditions and its 2023 guidance remained unchanged, with the company on track to deliver an operating margin of 17%.

Markets

At the close

FTSE 100 7,515 +0.34%

FTSE 250 18,666 +0.97%

DAX 16,679 +0.88%

At 16:45

Dow Jones 36,161 +0.10%

S&P 500 4,569 +0.05%

NASDAQ 14,238 +0.06%

Fixed Income

UK 10-YR YIELD 3.948

Exchange Rates

GBP/USD 1.258

GBP/EUR 1.166

Commodities

Gold $2,027 +0.42%

Brent $74.47 (-3.24%)

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.